Al-Jouf Cement Company announces the initial consolidated financial results for the period ending on 30-09-2023 (nine months)

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	79,516,927	74,142,619	7.25	67,956,812	17.01
Gross Profit (Loss)	36,935,702	19,158,995	92.78	40,955,435	-9.81
Operational Profit (Loss)	30,798,855	13,837,879	122.57	31,699,987	-2.84
Net Profit (Loss) after Zakat and Tax	29,003,680	5,937,318	388.5	20,145,102	43.97
Total Comprehensive Income	29,003,680	5,937,318	388.5	20,145,102	43.97
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	217,744,563	172,435,759	26.27
Gross Profit (Loss)	120,063,269	45,951,992	161.28
Operational Profit (Loss)	96,528,684	28,953,236	233.4
Net Profit (Loss) after Zakat and Tax	72,625,058	7,755,541	836.43
Total Comprehensive Income	72,625,058	7,755,541	836.43
Total Share Holders Equity (after Deducting Minority Equity)	1,208,899,499	1,100,398,761	9.86
Profit (Loss) per Share	0.67	0.07
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Net income for third quarter 29 Million Riyal, compared to 5.9 Million Riyal for the same quarter in 2022. The increase reflect the impact of higher sales price and volume sold and reduction of the cost. in addition, there was an unrelaized gain by 9.5 million resulting from rescheduling the debt of the Ministry of Industry and Mineral Resources during the period. Despite the increase in financing expenses as a result of an increase in the price of SIBOR compared to what it was in the same quarter in 2022.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	Net income amounted to 29 million riyals for the third quarter of 2023, compared to 20.1 million riyals for the second quarter of 2023, as a result of the increase in the value of sales in addition to gains amounting to 9.5 million riyals resulting from rescheduling the debt of the Ministry of Industry and Mineral Resources during the period.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Net income amounted to 72.6 million riyals for the first nine months of 2023 AD, compared to 7.8 million riyals for the same period in 2022 AD, as a result of the increase in the value of sales as a result of the increase in the average selling price and the decrease in the cost of sales, in addition to gains amounting to 9.5 million riyals resulting from On scheduling the debt of the Ministry of Industry and Mineral Resources during the period, despite the increase in financing expenses as a result of the rise in the SIBOR price compared to what it was in the similar period of the previous year.
Statement of the type of external auditor's report	Qualified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	During the period, the group’s management reviewed the evaluation of the inventory of production in operation and finished production as a result of conducting inventory counts, which resulted in significant inventory adjustment differences. The management is still working, as of the date of our report, to verify the operational and financial reasons for those differences and their impact on the basis of the regular distribution of production expenses. The fixed and variable expenses incurred to convert raw materials into in-process and finished production inventory and its impact on the cost of goods sold during the three-month and nine-month period for the period ending September 30, 2023 AD, and management believes that it will be able to provide us with these details during the fourth quarter of the current year, which , if completed, may come to our attention. Things indicate that there are amendments that were necessary to make in the initial condensed and consolidated financial statements.
Reclassification of Comparison Items	Certain comparative figures have been reclassified to conform to the current presentation

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